Indian rupee rises against UAE dirham as oil prices fall – Reuters

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The dollar index traded up 0.13% to 99.92



PTI file

Published: Mon 11 April 2022, 09:44

The Indian rupee appreciated 14 paise to 75.79 against the US dollar (20.65 against the UAE dirham) at the opening of trade on Monday, amid falling crude oil prices.

On the Indian Interbank Exchange, the Rupee opened at 75.94 against the US Dollar, then gained ground to trade at 75.79, up 14 paise since the last close.

On Friday, the rupee appreciated 10 paise to settle at 75.93 against the greenback.

The dollar index, which gauges the strength of the greenback against a basket of six currencies, was trading up 0.13% at 99.92.

Most Asian and emerging market peers are trading weaker against the U.S. dollar on Monday morning and could weigh on sentiment, but moderating crude oil prices will limit the downside bias, said Sriram Iyer, senior analyst at research at Reliance Securities.

However, the big trigger for the markets will be Indian and US CPI inflation data on Tuesday, Iyer said.

“Last week, India’s central bank shifted its focus from economic growth to checking inflation risks in Asia’s third-largest economy, reflecting the urgency to rein in soaring price pressures. interiors following the fallout from the conflict in Ukraine,” Iyer noted.

On the Indian stock market front, the 30-stock Sensex traded 322.35 points or 0.54% lower at 59,124.83, while the broader NSE Nifty was down 73.70 points or 0. .41% to 17,710.65.

Global benchmark Brent crude oil futures fell 2.33% to $100.39 a barrel.

(with PTI entries)

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